Legacy Capital Group California Inc. Buys 86 Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC)

Legacy Capital Group California Inc. raised its stake in shares of Marsh & McLennan Companies, Inc. (NYSE:MMC) by 3.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,576 shares of the financial services provider’s stock after buying an additional 86 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Marsh & McLennan Companies were worth $484,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MMC. Nilsine Partners LLC grew its position in shares of Marsh & McLennan Companies by 0.8% in the 2nd quarter. Nilsine Partners LLC now owns 6,386 shares of the financial services provider’s stock valued at $1,201,000 after purchasing an additional 52 shares during the period. Jones Financial Companies Lllp raised its stake in Marsh & McLennan Companies by 40.5% in the 2nd quarter. Jones Financial Companies Lllp now owns 184 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 53 shares during the period. Dynamic Advisor Solutions LLC raised its stake in Marsh & McLennan Companies by 2.8% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 2,255 shares of the financial services provider’s stock valued at $424,000 after acquiring an additional 62 shares during the period. Pinnacle Associates Ltd. raised its stake in Marsh & McLennan Companies by 1.0% in the 1st quarter. Pinnacle Associates Ltd. now owns 6,556 shares of the financial services provider’s stock valued at $1,092,000 after acquiring an additional 65 shares during the period. Finally, Dfpg Investments LLC raised its stake in Marsh & McLennan Companies by 0.9% in the 2nd quarter. Dfpg Investments LLC now owns 8,099 shares of the financial services provider’s stock valued at $1,517,000 after acquiring an additional 71 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Oscar Fanjul sold 3,000 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $194.90, for a total value of $584,700.00. Following the sale, the director now owns 63,012 shares of the company’s stock, valued at $12,281,038.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Marsh & McLennan Companies news, Director Oscar Fanjul sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $194.90, for a total transaction of $584,700.00. Following the sale, the director now owns 63,012 shares of the company’s stock, valued at $12,281,038.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO John Jude Jones sold 4,908 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $193.08, for a total transaction of $947,636.64. Following the sale, the chief marketing officer now directly owns 7,978 shares in the company, valued at approximately $1,540,392.24. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MMC shares. StockNews.com assumed coverage on Marsh & McLennan Companies in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. Morgan Stanley increased their price objective on Marsh & McLennan Companies from $205.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 11th. Raymond James increased their price objective on Marsh & McLennan Companies from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, October 20th. Wells Fargo & Company increased their price objective on Marsh & McLennan Companies from $200.00 to $208.00 and gave the stock an “overweight” rating in a research report on Friday, July 21st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Marsh & McLennan Companies in a report on Wednesday, October 4th. They set a “buy” rating and a $226.00 target price on the stock. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $201.38.

Marsh & McLennan Companies Trading Down 0.2 %

NYSE:MMC traded down $0.46 during mid-day trading on Friday, hitting $197.86. 1,453,610 shares of the company’s stock were exchanged, compared to its average volume of 1,599,834. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.02. Marsh & McLennan Companies, Inc. has a fifty-two week low of $151.86 and a fifty-two week high of $201.00. The company has a 50 day simple moving average of $193.31 and a 200-day simple moving average of $187.92. The firm has a market capitalization of $97.56 billion, a P/E ratio of 28.51, a PEG ratio of 2.26 and a beta of 0.97.

Marsh & McLennan Companies (NYSE:MMC) last issued its quarterly earnings data on Thursday, October 19th. The financial services provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.18. Marsh & McLennan Companies had a net margin of 15.61% and a return on equity of 34.01%. The company had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the previous year, the firm posted $1.18 earnings per share. Marsh & McLennan Companies’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, research analysts expect that Marsh & McLennan Companies, Inc. will post 7.93 earnings per share for the current year.

Marsh & McLennan Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 6th were paid a $0.71 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $2.84 annualized dividend and a dividend yield of 1.44%. Marsh & McLennan Companies’s dividend payout ratio is 40.92%.

Marsh & McLennan Companies Company Profile

Marsh & McLennan Companies, Inc, a professional services company, provides advice and solutions to clients in the areas of risk, strategy, and people worldwide. It operates in two segments, Risk and Insurance Services, and Consulting. The Risk and Insurance Services segment offers risk management services, such as risk advice, risk transfer, and risk control and mitigation solutions, as well as insurance and reinsurance broking, strategic advisory services, and analytics solutions; and insurance program management services.